Abercrombie & Fitch Says Jeffries Is Retiring as CEO

Michael Jeffries, CEO of Abercrombie and Fitch, has stepped down, leading to a rise in share prices. Arthur Martinez will serve as interim CEO. Jeffries initially led the company to success but later faced controversies, including discrimination lawsuits. The company has struggled to adapt to fast fashion trends, losing its teen audience and experiencing declining sales.

Who will serve as the interim CEO after Mike Jeffries?

What challenges has Abercrombie and Fitch faced in recent years?